Right now poor people are at the mercy of pawnbrokers, loan sharks who often charge interest rates of 100%+ per year.
Potentially access to reasonable rate credit cards is life-changing.
Right now poor people are at the mercy of pawnbrokers, loan sharks who often charge interest rates of 100%+ per year.
Potentially access to reasonable rate credit cards is life-changing.
Making a "big education investment" on a credit card is insanity. The student loan debt crisis may well be the next domino to fall in the the US economic meltdown - it was half the motivation for the participants in Occupy:
http://business.time.com/2012/11/29/is-the-student-loan-debt...
Rates on credit cards are generally less than reasonable, and their policies are frequently abusive. And this is in America, not the "wild East".
http://www.mybudget360.com/endgame-credit-card-nation-40-yea...
Watch, or listen to this, if you are concerned about India's future exploitation:
http://www.democracynow.org/2010/2/23/robert_manning_credit_...